Show UserForm Animation While Another Is Processing

I've been working on a variety of ways to display a 'loading' animation into Excel while other processes are running and although there seems to be a lot of strategies out there, none seem to jive with the form I've created. I've been reading a lot about "DoEvents", because that seems to be the common theme in trying to display a UserForm while other processes are running. However, I just don't have enough of a grasp of how it works to make it function properly with my form.

Basically, the form I have features several combo boxes, several command buttons, a few text fields and a bunch of labels. On initializing the form, captions for the labels and items in the combo boxes are added based on the ActiveCell and its surrounding values. Additionally, it includes an 'UPDATE' button that changes the captions and values on the form itself without hiding it, and once again makes reference to the active cell. This 'UPDATE' function can take quite some time and this is where I want to have a loading animation running.

Like I said, I've tried to achieve this in a few ways and the most hopeful avenue seems to be creating a separate UserForm with a WebBrowser element that references the animated GIF in question. However, when one UserForm is showing, the code from another will not run until it is closed. Thus, if I call the animation from the UPDATE button, the animation form will appear, but the update itself will not occur until the animation has been manually closed. Which defeats the purpose of a loading animation.

I understand that "DoEvents" is supposed to surrender some of the allotted processor power from the application so other code run, but the documentation surrounding it is rather convoluted to me. I can get it to work for simple operations, but I have not been able to simulate a situation where the command button on one form will show the animation form, run some code and then hide the animation with one click.